New Equipment Installations Expand the Company’s Footprint in Major and Emerging EV Markets
Miami Beach, FL, September 22, 2020 (GLOBE NEWSWIRE) — Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner and operator of electric vehicle (EV) charging equipment and services, today announced that it has sold or deployed 539 EV charging stations in the United States and internationally during the summer Covid-19 lockdowns of June, July, and August 2020. These numbers represent a nearly 100% increase over the same three-month period in 2019, further expanding Blink’s presence across key markets experiencing significant growth in EV adoption.
In the United States 300 charging stations were sold or deployed commercially including 178 new level 2 IQ 200 units along with 2 DC fast charging units. 120 of the EV charging stations were “swaps” from first generation equipment to the new Blink IQ 200 reflecting the company’s initiative to upgrade first generation chargers. 209 of the charging stations deployed are Blink owned and operated while 91 were sold directly to the host location.
The newly sold or deployed Blink charging stations can be found on the campuses of universities, healthcare providers and corporate workplaces, retail parking facilities and multifamily properties. Multifamily residential represented nearly 40% of all new locations, followed by education, automotive, and healthcare locations.
These additions to the Company’s footprint spanned 24 states, with California representing 37% of the installations, adding to the Company’s 1,250 units already in the state. Blink’s expanding infrastructure in California is a result of the Company’s efforts to strengthen its sales force and resources to service the state’s combined hybrid/electric vehicle market, which represented 13.2% of vehicles in the EV market in 2019.*
Leading multiple-unit deployments over the summer include the University of Illinois and Blessing Healthcare facilities in Illinois, as well as multiple Burger King and Apple Parking deployments across New York. Longstanding Blink clients AAA, Ikea, Whole Foods, and Forest City Real Estate also increased their EV charging footprint.
During the same period, the Company also sold 134 residential HQ 100 chargers through digital sales channels, representing a 73% increase over the same three-month period last year.
Internationally, the Company deployed 105 charging stations. In the Dominican Republic Blink expanded its presence through a strategic partnership with InterEnergy, accounting for 52 new commercial EV Charging stations including 12 DC Fast chargers and 40 level 2 Blink IQ 200 units. In partnership with Eunice Energy Group, Blink Charging Hellas deployed 50 of the IQ 250-EU units in Greece. Three additional EV charging stations were added to the Company’s expanding footprint in Israel.
The large number of Blink level 2 charging station sales and deployments demonstrates the accelerated adoption of electric vehicle use and the Company’s response to growing consumer demand by providing a reliable and conveniently located EV charging infrastructure to support EV drivers.
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK, BLNKW) is a leader in electric vehicle (EV) charging equipment and has deployed over 23,000 charging stations, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of the Company’s charging locations worldwide. The Company’s principal line of products and services is its Blink EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network utilizes a proprietary cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. With global EV purchases forecasted to rise to 10 million by 2025 from approximately 2 million in 2019, the Company has established key strategic partnerships to rollout adoption across numerous location types, including parking facilities, multi-family residences and condos, workplace locations, healthcare/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs. For more information please visit: https://www.blinkcharging.com.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Blink Charging and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including the potential benefits that we may obtain by being a member of the OpenADR organization and those described in Blink Charging’s periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
*Electric Vehicles Registrations by State, US Dept. of Energy, Alternative Fuels Data Center.
National Renewable Energy Laboratory (NREL). Data derived from IHS Markit light-duty vehicle registrations in 2018.
California had approximately 256,800 electric vehicle registrations as of Dec. 31, 2018.
*California Auto Outlook. Published by California New Car Dealers Association. Release February 2020 State New Vehicle Market Predicted to Remain Strong in 2020 https://www.cncda.org/wp-content/uploads/Cal-Covering-4Q-19.pdf